Cheryl Carolus retires as Grindrod chair

Logistics and ports group Grindrod says it’s preparing for a new generation of leaders to take the firm forward after confirming changes to its board.

The current chairperson, Cheryl Carolus and lead independent director, Nkululeko Sowazi, will be retiring from the board in June, the group said in a Sens on Tuesday.

Carolus was appointed in 2022 after serving on the boards of numerous listed companies, including De Beers, Investec, and Gold Fields. She also previously served as chair of South African Airways.

The timing of their retirement has been intentionally aligned with the conclusion of the group’s non-core disposals in line with the growth strategy and “reflects a considered and orderly leadership transition”.

ADVERTISEMENT

CONTINUE READING BELOW

Read:
Kwazi Mabaso gets Grindrod top job
Grindrod CEO Xolani Mbambo named Kumba Iron Ore CFO

Four people will be onboarded as independent non-executive directors of the company, with effect from 1 May 2026.

This includes:

Hubert Brody who is serving on the boards of Nedbank Group Limited and Nedbank Limited as lead independent director and has chaired and/or served on various board committees, which include the director’s affairs, remuneration, audit, IT, and risk and capital committees.
Mary Bomela who has served as CEO of Mineworkers Investment Company and as non-executive director on the board of Metrofile Holdings Limited (as deputy-chairperson). She serves on the boards of Kumba Iron Ore and Nedbank Group Limited.
Themba Mkhwanazi who is an experienced executive and non-executive director. His senior executive career includes roles as CEO of Anglo Coal South Africa, and Kumba, member of the Global Executive Leadership team at Anglo-American and senior leadership positions at Rio Tinto and Richards Bay Minerals.
Naidene Ford-Hoon who has served as Group CFO of the South African Reserve Bank and of Alexander Forbes and has held senior finance leadership positions at various companies throughout her career. She serves as an independent non-executive director on the boards of Capitec Bank Holdings Limited (and chairperson of Capitec’s audit committee and member of the risk committee) and Aveng Limited.

“These appointments reflect the high calibre of leadership and integrity sought at board level to further strengthen an already effective and engaged board,” the group says.

ADVERTISEMENT:

CONTINUE READING BELOW

Read: Grindrod opens first phase of R200m Cape Town depot
Grindrod earnings buoyed by record Maputo port and terminal volumes

The appointments will be put to shareholders for election at the upcoming annual general meeting (AGM) to be held on 11 June 2026.

“Subject to the outcome of the AGM and the subsequent election by the board, it is the intention of the board to appoint Raymond Ndlovu as chairperson and Hubert Brody as lead independent director in due course.”

#Cheryl #Carolus #retires #Grindrod #chair